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The global hydrogen powered tractor market size is expected to grow rapidly in the coming years driven by the potential of hydrogen fuel cell vehicles along with increasing demand for streamlined agricultural activities.
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A hydrogen powered tractor refers to a tractor that uses hydrogen as its primary power source. Tractors are large and sturdy vehicles that are used for a variety of agricultural tasks like harrowing, tilling, ploughing, and planting, and carrying heavy loads across agricultural lands. They are also used in mining and other industries to transport bulky loads particularly on uneven lands. Hydrogen is used in fuel cells, which use hydrogen and oxygen to react to produce mechanical energy and power motors.
Based on product, the market is divided into solid oxide fuel cell, phosphoric acid fuel cell, and proton exchange membrane fuel cell, among others. The market on the basis of installation is bifurcated into OEM and retrofit. On the basis of application, the market is segmented into mining, agriculture, and industries, among others. The regional markets for hydrogen powered tractors are divided into North America, Europe, the Asia Pacific, and the rest of the world.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global hydrogen powered tractor market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Proton exchange membrane fuel cells (PEMFC) are expected to account for a sizable share of the market for hydrogen powered tractors based on product due to their high power density and low weight. As they can be operated in relatively low temperatures, they can start up quickly with less warming time required. The need for PEMFC will be further fuelled by the rise of commercial, medium, light, and heavy-duty vehicles with extremely low-harmful discharges.
Agriculture applications are anticipated to witness significant growth in the market for hydrogen powered tractors to improve agricultural output, reduce need for labour, and lower operational costs. Hydrogen fuel cell technologies can be applied to agricultural tractors to replace internal combustion engines and reduce emissions without the drawbacks associated with large electric vehicle batteries. Increased mechanisation of agricultural activities and rising use of tractors in various agricultural tasks are anticipated to spur the hydrogen powered tractor market growth.
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CNH Industrial N.V., headquartered in London, United Kingdom, creates ground-breaking products and services for the building and agricultural industries. Founded in 2012, the company designs, manufactures, sells, and finances buses, specialty vehicles, commercial vehicles, and axles.
Kubota Corporation, founded in 1890 and headquartered in Osaka, Japan, produces and markets a variety of industrial and consumer goods in Japan and other Asian nations. The company's farm and industrial machinery section offer farm equipment, agricultural accessories, engines for farming, industrial machinery, and outdoor power equipment.
AGCO Corporation, headquartered in Georgia in the United States and founded in 1990, is a world leader in the design, production, and distribution of intelligent solutions for sustainable agriculture. It has a wide range of tractors, seeding and tillage tools, grain storage, combine harvesters, hay and forage equipment, and protein production systems.
Other market players include Buhler Versatile Inc. and Terberg Benschop B.V., among others.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Installation |
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| Breakup by Application |
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| Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The major drivers of the market include the support of various governments for agricultural activities, increase in research and development activities related to hydrogen fuel cell technology, and high suitability of hydrogen as fuel.
Increase in mechanisation of agricultural activities and the growing concerns related to greenhouse gas emissions are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, and the rest of the world.
The various products of hydrogen powered tractors in the market are solid oxide fuel cell, phosphoric acid fuel cell, and proton exchange membrane fuel cell, among others.
The primary types of hydrogen powered tractors are OEM and retrofit.
The major applications of hydrogen powered tractors in the market are mining, agriculture, and industries, among others.
Hydrogen refuelling can be done within minutes, by connecting the vehicle with a refuelling pump.
The major players in the hydrogen powered tractor market are CNH Industrial N.V., Buhler Versatile Inc., Kubota Corporation, AGCO Corporation, and Terberg Benschop B.V., among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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